Most people hope they never have to experience filing for bankruptcy. In the past, there was a stigma associated with filing for bankruptcy protection. Now that the stigma is largely gone, many people don't dread it quite as much.
How a divorce may affect your SSDI benefits
For most Americans, work is a part of everyday life. After all, you have bills to pay and, possibly, a family to support. Still, if you sustain a serious injury or develop a chronic condition, you may be unable to find a job you can perform. Social Security Disability Insurance benefits provide a meaningful safety net.
Finances are greatly impacted by a disability
Many workers in this country count on the income from their job to make ends meet. They don't ever think about what would happen if they were suddenly unable to work. For a person who is disabled in an accident, not having money to cover certain things can lead to disaster.
Considerations for living on a bankruptcy budget
People who file for Chapter 13 bankruptcy will have to watch their spending throughout the course of the bankruptcy. This is because you will have to make payments to the bankruptcy court in an effort to pay off your debts. There won't be much money left once this is done, so you will need to determine what you can do to cut expenses.
Yes, some disability checks can be garnished
Suffering a disabling injury at work can start a chain of events that is difficult to overcome. It can be difficult for loved ones to deal with the change in your abilities, and this might lead to your marriage ending. This is an unfortunate occurrence that means you are going to have to do a lot of planning.
Chapter 7 or Chapter 13: Which route makes the most sense?
If you find yourself drowning in a mountain of debt, you may want to seek remedies before your situation gets even worse. Creditors can file lawsuits that result in judgments to garnish your wages and place a lien on your property.
